Suncoast Credit Union

From Wikipedia, the free encyclopedia

Suncoast Credit Union
Formerly
  • Hillsborough County Teachers Credit Union
    (1934–1976)
  • Suncoast Schools Federal Credit Union
    (1976–2013)
TypeCredit union
IndustryFinancial services
FoundedJanuary 31, 1934; 88 years ago (1934-01-31)
Headquarters
Tampa, Florida
,
United States
Number of locations
73 branch banks (2020)
Area served
Florida
Key people
  • Kevin Johnson (president and CEO)
  • Julie Renderos (EVP and CFO)
Services
Total assetsIncrease US$12.39 billion[1] (2020)
Total equityIncrease US$1.089 billion[1] (2020)
Number of employees
2,012[2] (2021)
Websitesuncoastcreditunion.com

Suncoast Credit Union is a credit union headquartered in Tampa, Florida. The credit union formed in 1934 to originally serve teachers in Hillsborough County and later expanded to serve school employees within the state's suncoast region. Since December 2013, the credit union is open to anyone who lives, works, attends school, or worships in the 39 counties which the credit union serves.[3][4] As of July 10, 2020, Suncoast has $12 billion in assets and more than 895,000 members.[1][5]

History[]

The credit union began as Hillsborough County Teachers Credit Union on January 31, 1934, with the intention to help teachers working in Hillsborough County. The credit union amended its charter in 1953 to open membership to teachers in the nearby Citrus, DeSoto, Hardee, Hernando, and Pasco counties. By 1960, membership was opened to Charlotte, Levy, Manatee, and Sumter counties as well as to all employees of schools in counties their charter extended to. To reflect its changed field of membership, the credit union changed its name to Suncoast Schools Credit Union in 1975. In 1978, it converted to a federal charter and changed its name again to Suncoast Schools Federal Credit Union. In December 2013, the credit union obtained a state charter and changed its name to Suncoast Credit Union.[5]

In December 2019, the credit union was in the process of purchasing Apollo Bank which was expected to be completed by May 2020.[6] However, the purchase was withdrawn as a result of the COVID-19 pandemic. The purchase would have been Florida's largest-ever bank acquisition by a credit union.[7]

References[]

  1. ^ a b c "Annual Report 2020" (PDF). Suncoast Credit Union. Retrieved September 16, 2021.
  2. ^ "Suncoast Credit Union Financial Reports". iBanknet. Retrieved September 16, 2021.
  3. ^ Manning, Margie (February 5, 2014). "New name, new logo and new growth at Suncoast Credit Union". Tampa Bay Business Journal. Retrieved May 31, 2019.
  4. ^ "Membership Eligibility". Suncoast Credit Union. Retrieved May 31, 2019.
  5. ^ a b "The Suncoast Difference". Suncoast Credit Union. Retrieved September 16, 2021.
  6. ^ "Credit union gets bigger — and dismantles more of the community bank model". Business Observer. December 20, 2019. Retrieved September 16, 2021.
  7. ^ Portero, Ashley (February 11, 2021). "How Apollo Bank is reinventing itself in the wake of a canceled merger". Biz Journals. Retrieved September 16, 2021.
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